Corporations can elect to deduct up to $5,000 of organizational costs in the year they begin business, assuming their total organizational expenses do not exceed $50,000.

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According to the IRS, corporations can elect to deduct up to $5,000 of organizational costs in the year they begin business, assuming their total organizational expenses do not exceed $50,000. This is stated in IRS Publication 535, Business Expenses.

Corporations Can Elect to Deduct Up to $5,000 of Organizational